The following information pertains to Luna Company as at September 30, 2020: a. Notes payable – bank, P35,000 b. Accounts payable arising from purchase of goods, P1,125,000 c. Dividends in arrears on preference shares, not yet declared, P250,000 d. Income tax payable, P134,000 e. Accrued liabilities, P42,000 f. Mortgage payable, P2,250,000 g. Customers’ deposits, P89,000 h. Reserve for contingencies, P250,000 What is the total amount of liabilities that should be reported on Luna's statement of financial position as at September 30, 2020?
The following information pertains to Luna Company as at September 30, 2020: a. Notes payable – bank, P35,000 b. Accounts payable arising from purchase of goods, P1,125,000 c. Dividends in arrears on preference shares, not yet declared, P250,000 d. Income tax payable, P134,000 e. Accrued liabilities, P42,000 f. Mortgage payable, P2,250,000 g. Customers’ deposits, P89,000 h. Reserve for contingencies, P250,000 What is the total amount of liabilities that should be reported on Luna's statement of financial position as at September 30, 2020?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 12E: Inferring Accounts Receivable Amounts At the end of 2019, Karras Inc. had a debit balance of 141,120...
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The following information pertains to Luna Company as at September 30, 2020:
a. Notes payable – bank, P35,000
b. Accounts payable arising from purchase of goods, P1,125,000
c. Dividends in arrears on
d. Income tax payable, P134,000
e. Accrued liabilities, P42,000
f. Mortgage payable, P2,250,000
g. Customers’ deposits, P89,000
h. Reserve for contingencies, P250,000
What is the total amount of liabilities that should be reported on Luna's
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